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Question 6Comparative statements of financial position for Campbell Inc.appear below:CAMPBELL INC.Comparative Statements of Financial Position–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––Assets Dec. 31, 2016 Dec. 31, 2015Cash $ 29,000 $15,000Accountsreceivable 28,000 19,000Prepaidexpenses 9,000 12,000Merchandiseinventory 37,000 27,000Long-terminvestments 35,000 53,000Equipment 75,000 48,000Accumulateddepreciation—equipment (26,000) (22,000)Totalassets $187,000 $152,000Liabilities and Shareholders' EquityAccountspayable $ 21,000 $9,000Mortgagepayable 37,000 45,000Commonshares 40,000 23,000Retainedearnings 89,000 75,000 Total liabilities and shareholders'equity $187,000 $152,000Additional information regarding fiscal 2016:1. Profit forthe year was $27,000.2. Cash dividends of$13,000 were declared and paid during the year.3. Long-terminvestments with a carrying amount of $53,000 were sold for $48,000cash.InstructionsUsing the indirect method, prepare a statement of cash flows forthe year ended December 31, 2016.